After a significant plunge in his net worth in the first 16 days of 2024, African-American billionaire Alex Karp has made a remarkable comeback thanks to the performance of his stake in the big data analytics firm, Palantir Technologies.
Karp, an African-American tech billionaire renowned for his co-founding role in Palantir Technologies, has seen his net worth surge by $100 million over the past eight days, compensating for the multimillion-dollar losses incurred from Jan. 1 to 16.
Palantir’s rally propels Karp’s net worth to $2 billion: A daily gain of $12.5 million since Jan. 16
According to Forbes, Karp’s net worth, which stood at $1.9 billion on Jan. 16, has swiftly rebounded to an impressive $2 billion at the time of drafting this report — further solidifying his position among the world’s Black billionaires.
The surge in Karp’s fortune, equivalent to an average daily gain of $12.5 million since Jan. 16, is linked to the performance of his 2.63-percent stake in Palantir Technologies — the company he co-founded in 2003 with Peter Thiel, Nathan Gettings, Joe Lonsdale, and Stephen Cohen.
Palantir shares on the Nasdaq Stock Exchange have soared by 4.84 percent over the past eight days, rising from $16.53 on Jan. 16 to $17.33 at the time of drafting this report, thus pushing the group’s market capitalization above the $37-billion mark.
Karp’s wealth surges, solidifying his position among Black billionaires worldwide
As a result of the recent surge in the company’s shares, the market value of the stake held by the leading business executive and tech entrepreneur has increased by $45.76 million over the past eight days, soaring from $945.49 million on Jan. 16 to $991.25 million at the time of writing.
With the recent surge in his stake in Palantir, Alex Karp has cemented his position among the world’s Black billionaires. Forbes notes his current position at 1,546th on the list of the world’s wealthiest individuals — a significant jump from 1,585th on Jan. 16.
Karp’s position among Black billionaires underscores the success of African-American entrepreneurs in the tech sector. With Palantir’s continued success, Karp’s wealth is poised to grow, further establishing his standing among the world’s richest Black individuals.